DHFL, SVC Bank enter bancassurance deal

August 10 2018 by InsuranceAsia News Staff

SVC Cooperative Bank, one of the oldest urban cooperative banks in India, has signed a bancassurance deal with DHFL Pramerica Life Insurance.

The deal requires SVC Bank to offer DHFL Pramerica Life Insurance’s customised products and solutions to its customers through its extensive pan-India network of 198 branches, as well as through its online network.

In a joint statement, the companies said the objective of the partnership is to offer easy access to simple life insurance products, thereby bridging the insurance protection gap and strengthening the distribution network of DHFL Pramerica Life Insurance.

Anoop Pabby, chief executive of DHFL Pramerica Life Insurance, said the partnership is in line with its strategy to grow its business on the back of simple, customer-centric solutions.

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